TechnipFMC completed the spin-off a 50.1% stake of Technip Energies in $2.63bn deal.

TecnhipFMC, a French-American, UK-domiciled global oil and gas company that provides complete project life cycle services for the energy industry, completed the spin-off a 50.1% of Technip Energies in a $2.63bn deal. Bpifrance invested $200m in Technip Energies. TechnipFMC retained ownership of the remaining 49.9 percent "Today, our extensive backlog and a breadth of commercial opportunities provide strong revenue visibility and medium-term margin expansion potential. Our asset light business and strong balance sheet provide a solid platform to support our growth ambitions and high return-on-invested capital through the cycle. Ultimately, we aim to be the reference investment platform for the Energy Transition," Arnaud Pieton, Technip Energies CEO.